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American singer, songwriter, businessman, record producer and actor of Senegalese descent

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Bitcoin Beats the US Dollar: Rapper Akon Delivers Crypto Crash CourseBitcoin Beats the US Dollar: Rapper Akon Delivers Crypto Crash Course – CCN.com

Singer Akon has rubbished the common perception that cryptocurrencies such as Bitcoin are too volatile. Per the U.S. musician, crypto enjoys more stability relative to fiat currencies. Speaking in a radio interview on the Breakfast Club, Akon defended the volatility that Bitcoin skeptics regularly cite for their negative attitude towards crypto saying that “Believe it […] The post Bitcoin Beats the US Dollar: Rapper Akon Delivers Crypto Crash Course appeared first on CCN.com U.S. musician Akon has defended crypto saying that it is more stable than the dollar owing to the fact that its value is decided by users.

Grammy-nominated singer Akon shows his support for Bitcoin

The American singer and producer Akon has resurfaced on the internet after speaking out in favor of Bitcoin. “Nothing backs the dollar” Speaking with Angela Yee and DJ Envy in a radio interview on the Breakfast Club, Akon expressed his views on what makes Bitcoin a better currency than the U.S. dollar. The fact that cryptos rely on people’s trust rather than a financial system imposed by governments make them more powerful than any fiat currency in the world, according to the Grammy-nominated musician. Akon explained that fiat currencies have no intrinsic value, but people are forced to use them by their governments. “Who says that the actual dollar is worth anything? Yes, the government, but nothing backs the dollar. The U.S. doesn’t have natural resources that back the dollar. What they do have is the military,” added Akon. The renowned songwriter went on to emphasize that fiat currencies are extremely volatile because they are directly impacted by government policies. But, when it comes down to cryptocurrencies, they are more stable because they rely on the trust that people put into them. “It boils down to trust. What you trust is the value it gives you… Bitcoin, for example, is not a dollar. It’s a digital coin. I can buy a Ferrari with Bitcoin. I can buy a house with Bitcoin. I can buy whatever I want to buy with Bitcoin because it is just as equally valued as the dollar because people say it is,” stated Akon. Akon’s comments come as he steps forward towards launching his latest crypto-initiative, Akoin. “One Africa. One Coin” Under the motto “One Africa. One Coin,” Akon is working on creating the Akoin Ecosystem, which aims to unlock the potential of the world’s largest emerging economy with the creation of a trusted cryptocurrency, dubbed Akoin. This cryptocurrency is meant to stimulate and generate opportunities and inclusion for youth entrepreneurs across Africa’s 54 countries. “We’re trying to build a currency for the Africans and the whole (African) continent,” said Akon. At the moment, Akon is set to launch his pilot project in Senegal with the collaboration of the nation’s president Macky Sall. The American musician is planning to build a crypto-city, a few minutes away from the capital Dakar, that uses Akoin as the city’s official payment settlement token. The post Grammy-nominated singer Akon shows his support for Bitcoin appeared first on CryptoSlate.

Hiphop Icon Akon Defends Bitcoin against FUD

Grammy award-winning musician Akon has come out in support of bitcoin, stating that it is neither volatile nor lacks intrinsic value. The comments appeared during the Breakfast Club, a popular radio show among the New Yorker, wherein Akon was joining as a guest. The hip-hop star confronted questions over bitcoin’s price volatility and how it was not backed by anything. In his response, Akon explained that even government-backed fiat currencies have no intrinsic value, but people use them anyway because they trust their governments. He added that the US government shoves dollar into the lives of billions of people through military force. That is what backs the greenback, in the end. “What they do have is the military. That’s who backs the dollar,” Akon said. On volatility, Akon added that bitcoin is more stable than fiat currencies because it is genuinely democratic. The method of issuing new tokens stands distributed, meaning that people assign value to bitcoin, unlike the dollar which sees its value go up and down in response to government policies. “It boils down to trust. What you trust is the value it gives you,” said Akon, adding that he can buy anything he wants using bitcoin as much as he can with the US dollar. It is because two parties in the transaction believe bitcoin – or even the dollar – has value. That value comes from trust in the system. Akon is bullish on #Bitcoin and #Crypto pic.twitter.com/Jb4OGiqr8n — Coinsnobiety (@Coinsnobiety) September 9, 2019 The Business Mind of Akon Akon was not speaking from the typical point of view of a bitcoin fan. The musician has lately emerged as a successful businessman, having ownerships in a record label, clothing brand, and a solar energy company. But most interestingly, Akon is also in the process of launching a cryptocurrency named AKoin in Africa. The token, as Akon envisions, would ‘create opportunity and inclusion for youth entrepreneurs by allowing consumers to buy, hold, and spend cryptocurrency right from their smartphone through a suite of blockchain-powered apps.’ His pilot project is set to launch in Senegal. A government collaboration led by Senegal President himself has helped Akon securing a 200-acre land to build a crypto-city just 5 minutes away from Senegal’s new international airport. AKoin will be the city’s official payment settlement token. Akon wants to expand the operations to 18 other African countries. Hiphop Icon Akon Defends Bitcoin against FUD was last modified: September 10th, 2019 by Davit BabayanThe post Hiphop Icon Akon Defends Bitcoin against FUD appeared first on NewsBTC.
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